2013 (11) TMI 1055

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ound during the course of survey operation though it does not form basis for proceedings so far as protective assessment under Section 132 proceedings read with Section 158. So far as material recovered during the course of survey, it has to be in accordance with the procedure contemplated under Section 133A. Such material could be considered for relevant action as provided under the Act but no .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... T Manjula Chellur ,CJ. This appeal came up for admission before us. After hearing the learned counsel arguing for the appellant, we have gone through the orders of the Assessing Officer and the Tribunal. 2. The main contention of the appellant is, the material secured and impounded during a survey conducted by the department in the premises of the appellant assessee firm under Section 133A .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... presumptive value. 5. The Tribunal at paragraph 4 of the orders after referring to Section 158BB(1) analyses that undisclosed income has to be computed only on the basis of material found during the course of search operation or the information which is relatable to the material found during the course of search operation. This provision if read along with Section 132(4) of the Act, then the qu .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... t if there is any material found during the course of survey operation though it does not form basis for proceedings so far as protective assessment under Section 132 proceedings read with Section 158, but it has to be independently dealt with in accordance with the procedure. Again it does not mean that if any material is pointing out against the appellant firm, still on account of survey under S .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... is Mohammed Sherif, was remitted back to the authorities for fresh assessment and if in the exercise of powers by the assessing officer to make fresh orders they are at liberty to consider the case of the appellant assessee also only in accordance with the procedure under Section 132(4) read with provisions under Section 158 of the Act. This shall not come in the way of the authorities taking ind .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X